Imports of completely knockdown kits (CKD) by the local car assemblers plunged 58 per cent to $23 million in October from $54 million in September.
This is the lowest monthly CKD imports recorded by the country and is also lower than the average seen during COVID-19 times. Muhammad Tahir of Sherman Securities claimed that car production may further reduce during the next couple of months.
Interestingly, average monthly CKD imports during FY22 stood at around $142m.